Stock Indexes Fall for Fourth Day, Oil Surges, Fertilizer Grows

Stock indexes plummeted today on fears of global interest rate increases and surging oil prices. The DJIA fell more than 200 points, losing -206.07 to 12083.69, the Nasdaq gave back -54.93 settling at 2394.01 and the S&P 500 lost -22.95 to end the session at 1335.49.

Agrium (AGU | Quote | Chart | News | PowerRating) exploded up 8.88% or $8.18 to $100.36/share due to higher than expected second quarter profits attributed to a huge increase in demand for fertilizer.

Alcoa (AA | Quote | Chart | News | PowerRating) led the DJIA lower today after JP Morgan reduced its rating to neutral and squelched takeover rumors. The stock fell 8.12% or $3.47 to $39.26/share.

Staples (SPLS | Quote | Chart | News | PowerRating) climbed the most in the S&P 500 after agreeing to purchase Corporate Express of the Netherlands for $2.6 billion, the offer was increased three times during negotiations. The stock added 5.49% or $1.27 ending the session at $24.42/share.

Hooker Furniture (HOFT | Quote | Chart | News | PowerRating) fell 14.64% or $2.99 to 17.43/share after stating concerns of continued slow sales in 2008.

Oil climbed $5.37 to $136.68/barrel, gold added $11.70 to $882.90/oz and the VIX rose 4.06% to 24.12.